Does Trump’s Economic Policy Make Any Sense?

FEATURING RICHARD WOLFF – After his meeting with the Chinese President Xi Jinping, Donald Trump has reversed a major economic campaign promise and decided against labeling China a “currency manipulator.” China has a significant trade surplus with the US and during his campaign, Trump declared that US companies were unable to compete with Chinese ones because China was devaluing its currency. Apparently Mr. Trump does not think that is true anymore.

Just what is Trump’s economic policy? His proposed federal government budget released some weeks ago appears to be mostly in line with Republican orthodoxy, slashing social programs, arts, foreign aid, and more, while boosting defense spending. But with so many Trump voters picking him primarily because they hope to see an improvement in their personal finances does Trump even have a clear plan to improve the economy for millions of ordinary Americans? Or will this too be a major reversal from his campaign?

Richard Wolff, visiting professor at the New School University, New York and professor of economics emeritus at the University of Massachusetts, Amherst, author of a number of books including ‘Democracy at Work: A Cure for Capitalism’, ‘Occupy the Economy: Challenging Capitalism’, ‘Imagine: Living in a Socialist USA’, and ‘Capitalism’s Crisis Deepens: Essays on the Global Economic Meltdown.’